- Global electricity generation is expected to reach 31 trillion kilowatt-hours in 2026
- Renewable generation is projected to reach 80 per cent of the global energy mix by 2050, this will require annual investments in energy supply and production of circa $1.5 trillion by 2035
Dubai, UAE, 23 May 2023: Electricity industry is an important sector give most areas of our life depend on it. Studies indicate that global electricity generation is expected to reach 31 trillion kilowatt-hours in 2026, growing at a rate of 1.5 percent each year.
In the same context, The Gulf Cooperation Council Interconnection Authority (GCCIA) hosted the 20th General Assembly Meeting on the side-lines of The Arab Forum For Electricity Regulators (AFER) on 22nd May at Sofitel JBR. This prominent event brought together esteemed delegates from across the Arab region to discuss crucial matters pertaining to the electricity sector.
“We are thrilled to host the General Assembly Meeting at The Arab Forum For Electricity Regulators (AFER), bringing together key stakeholders in the electricity industry to address the region’s challenges and harness its tremendous potential. This gathering serves as a crucial platform for collaboration and knowledge exchange, driving us closer to a sustainable, interconnected, and efficient electricity sector in the Arab world,” said Eng. Ahmed Al Ebrahim, CEO, GCCIA.
This year’s General Assembly Meeting focused on renewables and their role in driving sustainability amid a global focus on the energy transition and measures to boost investment in the renewables sector.
While renewable generation is projected to reach 80 per cent of the global energy mix by 2050, this will require annual investments in energy supply and production of circa $1.5 trillion by 2035. The UAE is playing a strong leadership role globally, evidenced by the $100 billion Partnership for Accelerating Clean Energy (PACE) announced between the US and the UAE in October last. Its goal is to catalyse $100 billion in financing and investment to deploy 100 GW of clean energy in the US, the UAE, and emerging economies by 2035.
The General Assembly Meeting provided an opportunity to foster regional cooperation and address pressing challenges in the industry. It served as a vital platform for collaboration and knowledge exchange among electricity regulators in the Arab world.
During the General Assembly Meeting, participants engaged in dynamic discussions on a wide range of topics including regulatory frameworks, renewable energy integration, energy efficiency, grid modernization, and cross-border electricity interconnection. Distinguished experts, industry leaders, and policymakers delivered insightful presentations, shared best practices, and explored innovative solutions to accelerate the sustainable development of the electricity sector.
Furthermore, the event provided an excellent opportunity for networking, enabling delegates to establish valuable connections, forge partnerships, and enhance regional cooperation in the electricity industry. Participants also had the chance to interact with key stakeholders, regulators, and industry professionals, fostering a collaborative environment conducive to the exchange of ideas and experiences.
The Arab Forum For Electricity Regulators is the main platform in the Arab Region for exchanging knowledge and regional experience and methods of institutional development in electricity. It aims to realize consistency in the regulatory and technical practices at both regional and international levels in order to reach sustainable development in the electricity sector and a full- scope service in the region at the highest quality and reasonable cost.
